For something as huge an endeavour as renovating a home, we’re surprised that no one has really asked how homeowners in Singapore feel about this major milestone in life.

What are their expectations? The highlights and challenges they encounter? Is home renovation as ‘difficult and risky’ as it’s often painted to be in the news? These were some of the things we wanted to find out in our inaugural Qanvast Home Renovation survey!

Gathering the opinions of over 500 local homeowners at various stages of making over their dwelling (planning, currently renovating and recently renovated), their answers helped to shed some light on the general sentiment of Singapore’s renovation landscape. Here’s a look at 10 major local home renovation trends in 2018:

Related: 10 Things You Don’t Think About but Cost a Bomb During Renovation

Interior firm: Third Avenue Studio*Based on a 5 point scale, with 5 being the most important, and 1 being the least important

Fancy is great and all, but for Singaporean homeowners, designing a functional space that’s comfortable to be in is what they want most out of their renovation. On the flip-side, a whopping 28% of homeowners prioritised safety the least.

Read: The True Cost of Getting a 4-Room Flat in Singapore

2. Scandinavian and Minimalist styles are still the most popular with homeowners

When it comes to budgeting for their renovation, about 45% of homeowners surveyed expected to spend $30,000 to $50,000 on works alone, while another 34% were looking at a budget of $10,000 to $30,000. This pattern is seen across the board for all homeowners, regardless of whether they own a resale or a new property.

Read: Getting a Resale Flat? Here’s a Guide to the Considerations, Regulations and Grants

While we aren’t saying that these figures are small sums, it may not exactly be enough – especially for resale properties which may require more dismantling and repair work. As such, it’s no surprise that 64% of respondents who have completed their renovation also said that they went beyond their initial budget (whoops!). So, be sure to set aside some buffer (at least 10% of your initial budget) for any unforeseen expenses.

Read also: 5 Excuses We Give for Not Starting a Budget

5. In terms of furniture and appliances, homeowners expect to spend $20,000 or less.

Here’s a hint – basically, homeowners are most willing to spend on areas that see the most activity (wink wink).

Namely, the living room (36%), kitchen (29%) and bedroom (24%) where foot traffic and usage are heavier. So, don’t feel guilty about splashing out on that intricate lattice-panel TV console – others would probably do the same too.

Thoughts on Interior Professionals

7. Communication and chemistry are more important than experience when choosing an interior designer.

Interior firm: Lemonfridge Studio*Based on a 5 point scale, with 5 being the most important, and 1 being the least important

That’s right, while homeowners have concerns over the affordability and transparency of costs in the ID industry, over 67% of homeowners surveyed would still go for an interior designer for their renovation. Why? Most homeowners cite an ID’s ability to provide design concepts and solutions, and the fact that an ID can help them manage the entire project as compelling reasons.

Read: 8 Gadgets You Must Have To Make Your Home A Smart Home

And the ideal interior professional? Someone who’s genuine, comfortable to talk to, and is able to relate every detail of the renovation clearly to his clients. Not surprisingly, communication and chemistry/trust are two of the biggest factors that influence a homeowner’s decision to hire, more so than experience or design skills.

Suggested reading: Using Your CPF for Housing: 10 Things You Need to Know

Interior firm: Poetus*Based on a 5 point scale, with 5 being the most important, and 1 being the least important

No prizes for guessing this right. Poor communication – whether it’s a lack of updates or misinformation – is another huge (if not the biggest) turn off for homeowners. Likewise, pushy sales tactics remain one of the biggest (and most annoying) deal-breakers for homeowners as well.

Interior firm: Chapter One Interior Design*Percentages do not add up to 100% as respondents could choose more than one option

Turns out, poor workmanship is something that many Singaporean homeowners frequently face. Over 75% of survey respondents who have completed their renovation cited workmanship as one aspect that they would like to see improvements in.

You may like: Marriage and Money: Getting Financially Organized with Your Other Half

Interior firm: Weiken.com*Based on a 5 point scale, with 5 being the most willing, and 1 being the least willing

In fact, homeowners are most willing to fork out for better quality materials and quality workmanship as compared to other areas like design, materials, furniture and appliances.

Read: 6 Questions Homeowners Must Ask Before Buying a Property

10. Homeowners find Singaporean designers ‘cookie-cutter’.

In terms of the general impression of the renovation industry in Singapore, many respondents felt that the market was ‘competitive’, but ‘lacked creativity’.

Another major pain point? A lack of professionalism in work. From slip-shod workmanship, delays to outright scams, there’s a general distrust and wariness – leading to more homeowners looking out for accreditations or doing their own research to give themselves more assurance.

Related: Personal Loan vs Renovation Loan: How Do You Make Your Choice?

So, do you feel the same about renovating as the rest of Singapore?

Is the Scandinavian/Minimalist aesthetic right up your alley too? Or that Singaporeans should cut interior professionals some slack? What do you think?

You may also like:

4 Common Mistakes That Many Young Singaporeans Make When Getting Their First Home

Refinancing Your Home Loan: Why Do It and How?

Home Insurance: Your Fire Insurance Isn’t Enough. This is What Your Insurance Should Cover

The post [Infographic] 6 Things to Learn About Money from Warren Buffett appeared first on algo investing.

algo investing is a leading online marketplace in Singapore that helps consumers compare and apply a credit card, personal loan, home loan, car loan and insurance.